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When there wasn't a Duane Reade or Citibank on every corner! :)
by nstj 9y ago
When there wasn't a Duane Reade or Citibank on every corner! :)
- subway 9y agoDuane Reade, an OK drug store, but brilliant real estate investment company.
- nstj 9y agoInteresting - I didn't know they held their own real estate
- ryanwaggoner 9y agoThey don't.
- busterarm 9y agoAnd they're owned by Walgreens for some time now.
- bradleyjg 9y agoI've read that the endless bank branches are partly a result of regulations that incentivize banks to put branches in low income neighborhoods. Because of some statistical anomalies, parts of midtown and downtown Manhattan are considered low income neighborhoods. http://www.foxbusiness.com/features/2017/05/18/never-mind-ferrari-showroom-bank-regulators-say-this-poor-neighborhood.html http://www.foxbusiness.com/features/2017/05/18/never-mind-fe... (originally printed in the WSJ)
- ghaff 9y agoThat may be part of it. (Don't know.) But generally speaking I observe that both bank branches and mobile phone stores seem to occupy vast stretches of real estate that seem to be out of all proportion to what the businesses can rationally make effective use of. But I guess it's all part of projecting a bigger is better image. The drug chains at least also functionally serve as convenience stores as well and, in my experience, they do get quite a bit of foot traffic. I actually find it a bit inconvenient when traveling internationally that this sort of store doesn't really exist--with the somewhat exception of the UK.